It was last weekend when the Bitcoin price was booming, and people again started investing in it. Now right after a week, the BTC is seeing witnessing some losses. Bitcoin and some of the major Altcoins has seen the significant downfall of their value. It has been observed that all the coins are losing 4% to 15% of loss on a daily basis this week.
The analysts are saying that these corrections are natural as the coins have been overbought by the users. The capitalization of all digital assets has fallen from $263 billion to $243 billion on last Thursday. The average trading volume on a daily basis jumped to $111 billion.
Price Overview of Bitcoin, Ripple, and Etherum
- The price of Bitcoin is below $7,800, which is 5% lesser than its value on Wednesday. Although the value of BTC is reduced, the people are still investing in it with a hope that its price will increase in the near future.
- The capitalization of Etherum right now is $26.8 billion, which means its value is reduced by $2 billion. The value of Etherum has fallen by 4.5% when compared to its value on Thursday.
- Ripple’s XRP value is settling at $0.40. The coin lost nearly 13% of its value in the last 48 hours – the capitalization of this coin reduced from $19.8 billion to $17.0 billion.
Coins that are More Affected
Amidst all this chaos, there are two coins that are highly affected in the cryptocurrency market- TRON and Bitcoin SV. Both the coins have observed a significant loss, respectively.